The loan scheme of the prime minister youth entrepreneurship for the young person’s has been announced. The government of the Pakistan promised to the people that they provide the loan to the young and the un-employment person’s. Now that’s the time the Prime Minister MR.IMRAN KHAN announced the loan scheme. This scheme is only for that person’s who are free to their studies like graduation and the post graduation and they do not get any job in the Pakistan that kind of the person apply for the loan and then they started their own business with small and the normal investment.
The Al-Habib bank announced this scheme and the bank have some important and the valid policies for the loan. The loan is basically only for the work and the further studies. This loan is not for the other fields like buying new cars or the marriage ceremony or the other issues in the daily life. The person can get the long term or the short term and the capital loan for the working from the bank. The bank announced that the person can borrow only one vehicle for their working.
Prime Minister Kamyab Jawan youth Entrepreneurship Scheme 2021-22
The two terms announced by the bank. One is long term and the other is short term. On the other hand the both terms have same eligibility criteria. The long term duration is only 8 years. The person receives the loan in the installment. The short term loan is only 1 year. This loan is quite small like in the amount of the thousands.
The eligibility criteria are very important for the loan.
- The person has the Nation identity card of the Pakistan.
- The persons must have the age between 21 to 45 years old.
- If any students or the persons work at the Information technology or the online working then their ages must be 18 years old.
Loan Amount And Customer Pricing
The al-habib bank divided the loan into three stages.
- In the one stage, the loan amount is 1 million and the pricing amount is 3 % and the debit equity for new business is 90:10.
- In the second stage, the loan amount is 1million to 10 million and the pricing amount is 4 % and the debit equity for new business is 80:20.
- In the third stage, the loan amount is 10 million to 25 million and the pricing amount is 5 % and the debit equity amount for new business is 80:20.
For the stage one, the persons must have the personnel guarantee.
For the second and the third stages, the person full satisfies the bank credit policy.